Social Security Planning
Should You Collect Social Security and Invest the Difference?
In the past few months, some social media “finfluencers” have suggested that it might be a good idea to collect your Social Security early and invest the money in the stock market. Does it actually work? We follow up on a recent article from The Wall Street Journal that covers the issue in detail. Continue Reading Should You Collect Social Security and Invest the Difference?
Should I Use My Savings to Delay Collecting Social Security?
Episode 358 – Deciding when to collect Social Security is one of the most important financial decisions you’ll ever make. Make a mistake there and you’ll pay for it—every month for the rest of your life. But what if you want to retire early? That doesn’t mean you also need to collect early. A “bridge” strategy can be an important tool to get you through those years between giving up your job and collecting Social Security. It could make you much better off in the long run. Continue Reading Should I Use My Savings to Delay Collecting Social Security?
Thinking of Collecting Social Security Early? Not So Fast.
Episode 342 – Thinking of collecting your Social Security at age 62? Watch out for the “Excess Earnings Test.” It’s a bit more complicated than you may realize. Continue Reading Thinking of Collecting Social Security Early? Not So Fast.
Understanding Social Security Taxation
Episode 326 – There’s been a lot of talk lately about making Social Security income tax-free. This would certainly be a popular move, especially for seniors. But doing so comes at a steep price. Continue Reading Understanding Social Security Taxation
The Social Security Fairness Act: Is it Really Fair?
Episode 314 – The President is about to sign the Social Security Fairness Act into law. But is it really fair? And how does it affect Social Security’s solvency? Continue Reading The Social Security Fairness Act: Is it Really Fair?
The Social Security Administration (SSA) Gets It Right
Episode 277 – After many years, the Social Security Administration (SSA) has finally taken steps to fix the problem it has referred to as “clawback cruelty.” Continue Reading The Social Security Administration (SSA) Gets It Right
Social Security Trustees Report 2023: Here We Go Again
Episode 228 – The new Social Security Trustees report has both good news and bad news. The question is: where do we go from here? Continue Reading Social Security Trustees Report 2023: Here We Go Again
Using Social Security to Enhance Your Family Legacy
One of social security’s biggest limitations is that no matter what you do, it's going to help only you and your spouse. Once the two of you are gone, the Social Security ends. But what if there was a way to use Social Security to create a family legacy for your...
Social Security and the Government Shutdown
The partial government shutdown drags on and on. Some government employees have been furloughed, and certain government services are currently unavailable. Not so for Social Security. The shutdown has had no impact on Social Security or disability checks. “There is no...
Social Security and Government Employees: Part Two – Windfall Elimination Provision
In Part One of this series of articles, we looked at certain types of government employees. These are people who have worked previously with a “non-covered” pension. That is, they worked at a job where they didn’t have to pay Social Security (SS) withholding taxes...
Social Security and Government Employees: Part Three – Government Pension Offset
In Parts One and Two of this series, we looked at certain types of government employees who have worked previously with a “non-covered” pension. That is, they worked at a job where they didn’t have to pay Social Security withholding taxes, but got a separate pension...
Social Security and Government Employees: Part One – The Basics
Government employees are a seriously under served market, particularly when it comes to Social Security. And there’s one interesting reason: Very few people truly understand how Social Security integrates with “non-covered” pensions. That is, pensions, often for state...
Divorce and Remarriage
What happens to Social Security after divorce occurs? Here's a quick summary. First, a divorced spouse who was married for at least ten years is entitled to the same Social Security spousal benefit as a married spouse. That is, he or she may receive up to 50 percent...
How Do You Define Success?
Is it revenue, income or innovation? Perhaps your ability to give back to your community? Maybe improved well-being of your employees and increased ability to provide for your own family? Maybe you’re just starting out and want it all. Whatever your financial goals,...
Will it Still Be There?
There is some disturbing language—in bold print, no less—on the second page of any individual Social Security statement issued by the SSA: Your estimated benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The...